Oct 18 Mortgage company PNB Housing Finance Ltd is seeking to raise up to $450 million in an initial public offering, IFR reported on Tuesday, citing a term sheet of the transaction.
PNB Housing, owned by Punjab National Bank and private equity firm Carlyle Group LP, is looking to sell between 38.7 million and 40 million new shares in an indicative range of 750-775 rupees, added IFR, a Thomson Reuters publication. That would put the IPO at up to 30 billion rupees
BID/ISSUE OPENS ON* Tuesday, October 25, 2016 BID/ISSUE CLOSES ON Thursday, October 27, 2016 FINALISATION OF BASIS OF ALLOTMENT On or about November 2, 2016 INITIATION OF REFUNDS FOR ANCHOR INVESTORS/UNBLOCKING OF FUNDS On or about November 3, 2016 CREDIT OF EQUITY SHARES TO DEPOSITORY ACCOUNTS On or about November 4, 2016 COMMENCEMENT OF TRADING On or about November 7, 2016
Did some calculations; 35% retail means 1050 crore for retail individuals, it would req 7.1 lac application. No way this IPO is going to cross 2x subscription when ICICI Pru @ 5000 cr total size had 10 lac total applications
95.1. Eagleye| Link| Bookmark|
October 18, 2016 4:20:46 PM
IPO Guru (6600+ Posts, 22000+ Likes)
You are right Sir,
1,34,60,884 shares for Retail and 1 lot = 19 therefore, 7,08,468 forms = 1X (on application basis)
95.2. Eagleye| Link| Bookmark|
October 18, 2016 4:22:22 PM
IPO Guru (6600+ Posts, 22000+ Likes)
Total retail applications in ICICI Pru was 10.91Lakh forms and in Endurance was 6.41Lakh forms
94. Eagleye| Link| Bookmark|
October 18, 2016 12:42:13 PM
IPO Guru (6600+ Posts, 22000+ Likes)
For those who like to read ... the RHP of PNB Housing is available here >>>
if pricing is 750 than it will worst IPO in 2016, big avoid.
89.1. Eagleye| Link| Bookmark|
October 18, 2016 3:15:25 PM
IPO Guru (6600+ Posts, 22000+ Likes)
Carn Mohan Sir,
With all due respects to your opinion ...
However, In the case of PNB Housing: In short term, P/BV will be 3X = Rs.337.76 X 3 = Rs.1013/- In medium term, P/BV will be 4X = Rs.337.76 X 4 = Rs.1351/-
PNB price band is out 750-775. Hats of to eagleeye for knowing it/guesssing it before hand. A peer analysis http://wp.me/p7zwuc-g7 of HFCs reveals that at the upper end of price PNB Housing Finance is asking for P/BV ratio of 4.5 & PE ratio of 30.79 . both P/BV and PE ratio are higher than other HFCs.